CIG continues to grow despite economic climb
Significant growth in 2009 for Callcredit Information Group as:
- Profits increase by 54%
- Revenues increase by 9%
- Staff numbers increase from 625 to 676
Callcredit Information Group announced today that it saw significant growth in 2009, with profits increasing 54% on the previous year to show full year profits of £7 million. Despite continued uncertain market conditions throughout 2009, the company saw revenue increase by 9% year on year. The Group also continued to expand its workforce, increasing staff numbers from 625 to 676.
John McAndrew, CEO of Callcredit Information Group said,
"Callcredit is focused on driving innovation into the marketplace and these results show that our efforts and achievements have been well received by our customers. Over the course of the year we have continued to refine and develop our unique credit and marketing products, enabling our clients to make more responsible and informed decisions around what an individual consumer can or cannot afford."
At the end of 2009 following a time consuming process for the management team, Callcredit went through an MBO and partnered with private equity firm Vitruvian.
"The last year, whilst an exciting year of change at Callcredit, has been tough for the market and our customers. The good news is that it was time well spent and we find ourselves with an excellent partner and a clear growth strategy which will come from a combination of organic growth and acquisition. With a general growth of revenue and profits across the business in a difficult market, we feel we are well equipped to continue to grow in 2010 and are in a strong position to deliver a solid financial performance and exceed our long term growth objectives."